The Difference Between An Idea And An Opportunity

Today’s advice comes from Tim Westergren, founder of Pandora, via Fast Company:

“The difference between an idea and an opportunity is what really defines entrepreneurship. I think entrepreneurs are people who are gamed to jump in and see if there’s a connection, if an idea is indeed an opportunity.”

According to Westergren, an opportunity is the result of a good idea and entrepreneurs that go after ideas they strongly believe in are likely to create their own opportunities.

The difference between opportunity and an idea is execution and action; you merely think of ideas, but you take opportunities. Understanding the difference is vital for success, in business and in life.

“It’s also true that some of the greatest opportunities were ideas that at the time didn’t really seem like good ideas. And I think entrepreneurs are the folks who are willing to take a chance and find out.”